Quantinno Capital Management LP Boosts Stock Holdings in Copart, Inc. $CPRT

Quantinno Capital Management LP lifted its position in shares of Copart, Inc. (NASDAQ:CPRT) by 10.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 453,331 shares of the business services provider’s stock after buying an additional 43,879 shares during the quarter. Quantinno Capital Management LP’s holdings in Copart were worth $15,051,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new position in Copart in the 4th quarter valued at approximately $34,000. Cache Advisors LLC bought a new stake in shares of Copart in the 1st quarter worth $31,000. Triumph Capital Management increased its holdings in shares of Copart by 424.2% in the 4th quarter. Triumph Capital Management now owns 1,017 shares of the business services provider’s stock worth $40,000 after purchasing an additional 823 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Copart by 365.8% in the first quarter. Geneos Wealth Management Inc. now owns 1,118 shares of the business services provider’s stock worth $63,000 after purchasing an additional 878 shares during the last quarter. Finally, DV Equities LLC purchased a new position in shares of Copart in the fourth quarter worth $48,000. 85.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Freedom Capital raised Copart to a “strong-buy” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $45.00 target price on Copart in a research report on Friday, May 22nd. Barclays set a $26.00 price target on shares of Copart and gave the company an “underweight” rating in a report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d+)” rating on shares of Copart in a research note on Wednesday. Finally, Zacks Research cut shares of Copart from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 28th. Three research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $43.50.

Insider Transactions at Copart

In related news, CEO Jeffrey Liaw sold 27,745 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $30.49, for a total transaction of $845,945.05. Following the completion of the sale, the chief executive officer directly owned 99,641 shares in the company, valued at approximately $3,038,054.09. The trade was a 21.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 9.60% of the company’s stock.

Copart Stock Performance

Shares of NASDAQ:CPRT opened at $29.12 on Monday. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 18.09 and a beta of 1.02. The stock’s 50-day simple moving average is $29.82 and its two-hundred day simple moving average is $33.72. Copart, Inc. has a 52-week low of $26.81 and a 52-week high of $50.11.

Copart (NASDAQ:CPRT) last released its quarterly earnings results on Thursday, May 21st. The business services provider reported $0.43 EPS for the quarter, beating the consensus estimate of $0.41 by $0.02. Copart had a net margin of 33.48% and a return on equity of 16.63%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the firm earned $0.42 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts forecast that Copart, Inc. will post 1.58 earnings per share for the current fiscal year.

Copart Profile

Copart (NASDAQ: CPRT) is a global provider of online vehicle auction and remarketing services, focused primarily on the sale of salvage and clean-title vehicles. The company operates a technology-driven auction platform that connects sellers — including insurance companies, vehicle finance firms, rental car companies, dealerships and fleet owners — with a broad buyer base consisting of vehicle dismantlers, recyclers, rebuilders and retail buyers. Copart’s business model centers on efficient vehicle disposition using digital bidding and logistics services to maximize recovery value for its clients.

Core services include hosting live and timed online auctions, vehicle listing and inspection support, title processing, and transportation and storage solutions.